The Importance of Diversity in Management

As the marketplace for goods and services becomes increasingly global, businesses must understand and embrace diversity in their brands as well as in their work forces. Simply having a diverse employee population is no longer enough, according to Forbes; for a company to succeed in today's challenging economy, it must not only meet the needs of a multifaceted marketplace, it must respect different cultures, ideas and philosophies.

Innovation

One of the biggest reasons to employ a diverse work force is the broad base of cultural experience that will drive innovation. Whether an employee is management, mid-level or entry level, when everyone in the work force has a similar background, the creative process that drives innovation and problem solving is similar. A new perspective that doesn't match this "group think" is more likely to improve the business in a unique way.

Attracting Talent -- and Customers

Premier industry business talent prefers to work for or with a company that has a diverse work force. Customers also prefer to buy goods and services from diverse companies, too. These are two reasons that Forbes says to be truly successful in the global marketplace, a business must be authentically diverse. That means a company must develop a new model that embraces diversity as a central growth enabler.

From Recruitment to Strategy

Companies that embrace this authentic diversity will find that having only the requisite number of "minorities" in the workplace isn't enough. Instead, according to Forbes, companies are developing "chief diversity officer" roles that touch more than just recruitment and human resources. These CDOs will instead have greater control over areas such as strategy, marketing and sales. Companies that have diversity among the management staff will more easily fulfill the needs of a broad customer base.

Cultural Intelligence

Perhaps the most compelling reason to employ a diverse work force is cultural intelligence. When fellow employees and customers are diverse, the opportunities not just to learn but to appreciate what values other cultures hold sacred are limitless. Adopting these values as part of the business' core message and product fosters understanding between the cultures. When a business operates with diversity in mind, the opportunity for shared value -- both in profit and society -- is greatly expanded.

About the Author

Lisa Bigelow is an independent writer with prior professional experience in the finance and fitness industries. She also writes a well-regarded political commentary column published in Fairfield, New Haven and Westchester counties in the New York City metro area.

Photo Credits

Have Feedback?

Thank you for providing feedback to our Editorial staff on this article. Please fill in the following information so we can alert the Small Business editorial team about a factual or typographical error in this story. All Fields are required.